In an account jadwiga akapo currently has $28 230 at a rate of 4% how long will it take for them to have $193, 420 assuming semi annually compounding hint compute the exact years do not use role of 70/72
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In an account jadwiga akapo currently has $28 230 at a rate of 4% how long will it take for them to have $193, 420 assuming semi annually compounding hint compute the exact years do not use role of 70/72
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- Scrimiger Paints wants to upgrade its machinery and on September 20 takes out a loan from the bank in the amount of $500,000. The terms of the loan are 2.9% annual interest rate and payable in 8 months. Interest is due in equal payments each month. Compute the interest expense due each month. Show the journal entry to recognize the interest payment on October 20, and the entry for payment of the short-term note and final interest payment on May 20. Round to the nearest cent if required.Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual interest rate of 6%, and payable in four months. How much interest will Marathon Peanuts owe at the end of four months? A. $2,600 B. $7,800 C. $137,800 D. $132,600Use Future Value and Present Value Tables to Apply Compound Interest to Accounting Transactions Kristen Quinn makes equal deposits of $500 semiannually for 4 years. Required: What is the future value at 8%? (Note: Round answers to two decimal places.)
- You're prepared to make monthly payments of $220, beginning at the end of this monthinto an account that pays 8 percent interest compounded monthly.How many payments will you have made when your account balance reaches $59,000(Do not round intermediate calculations and round your answer to 2 decimal place!e.g., 32.16.)McEwan Industries sells on terms of 3/10, net 20. Total sales for the year are $971,000; 40% of the customers pay on the 10th day and take discounts, while the other 60% pay, on average, 90 days after their purchases. Assume 365 days in year for your calculations. What is the days sales outstanding? Round your answer to two decimal places. days What is the average amount of receivables? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the percentage cost of trade credit to customers who take the discount? If your answer is zero, enter zero. Round your answer to two decimal places. % What is the percentage cost of trade credit to customers who do not take the discount and pay in 90 days? If your answer is zero, enter zero. Do not round intermediate calculations. Round your answers to two decimal places. Nominal cost: % Effective cost: % What would happen to McEwan’s accounts receivable if it toughened up on its collection…Molly Hamilton deposited $60,000 at Bank of America at 16% interest compounded quarterly.What is the effective rate (APY)? (Use the Table provided.) (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.) Effective Rate %
- Mark Welsch deposits $7,300 in an account that earns interest at an annual rate of 12%, compounded quarterly. The $7,300 plus earned interest must remain in the account 2 years before it can be withdrawn. How much money will be in the account at the end of 2 years? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round "Table Factor" to 4 decimal places.)Please do not use excel If money is woth 5 1/2% compounded annually, what single payment now equivalent to 45 annual payments of 35,000 each with the first payment due in five years?You’re prepared to make monthly payments of $225, beginning at the end of this month, into an account that pays an APR of 6.5 percent compounded monthly. How many payments will you have made when your account balance reaches $15,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
- (Enter final answers only, not formulas. Round all answers to the nearest cent. Do not enter large numbers with commas.)What is the balance after 1 year in an account containing $1100 that earns a yearly nominal interest of 9% and is compounded?(a) annually? (once per year) $ (b) weekly? (52 times per year) $ (c) every minute? (525,600 times per year) $ (d) continuously? $You’re prepared to make monthly payments of $265, beginning at the end of this month, into an account that pays 9 percent interest compounded monthly. How many payments will you have made when your account balance reaches $68,000? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)One of your customers is delinquent on his accounts payable balance. You’ve mutually agreed to a repayment schedule of $600 per month. You will charge 1.0 percent per month interest on the overdue balance. If the current balance is $14,820, how long will it take for the account to be paid off? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of months
